FDIC Disclaimer: MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 2

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2 FDIC Disclaimer: The books and online resources referenced in the Educator Guide and Parent/Caregiver Guide are examples/options that may be used to support the subject being taught and should not be considered as an endorsement by the Federal Deposit Insurance Corporation (FDIC). Reference to any specific commercial product, process, or service by trade name, trademark, manufacture, or otherwise does not constitute an endorsement, a recommendation, or a favoring by the FDIC or the United States government. The FDIC Money Smart curriculum references books and provides links to other websites for convenience and informational purposes only. Users should be aware that when they select a link on the FDIC s website to an external website, they are leaving the FDIC s site. Linked sites are not under the control of the FDIC, and the FDIC is not responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites. The FDIC is not responsible for any transmission received from a linked site. The inclusion of a link does not imply endorsement by the FDIC of the site, its content, advertisers, or sponsors. External sites may contain information that is copyrighted with restrictions on reuse. Permission to use copyrighted materials must be obtained from the original source and cannot be obtained from the FDIC. MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 2

3 TABLE OF CONTENTS Welcome to Money Smart... 4 Getting Started... 5 Lessons At-A-Glance... 8 Lesson 1: Working Hard for the Money (Career Options) Lesson 2: Designing Dreams (Financial Planning) Lesson 3: Can You Pay Your Bills? (Spending and Budgeting) Lesson 4: Boost Your Savings (The Importance of Saving) Lesson 5: Bank Your Bucks (Choosing a Banking Partner) Lesson 6: Bread-and-Butter (Managing Your Paycheck) Lesson 7: Capacity, Character, Collateral, Capital (Credit) Lesson 8: The Almighty Dollar? (Credit Cards) Lesson 9: As Easy as Pi (Financial Ratios) Lesson 10: Convertible or Clunker? (Automobile Purchase) Lesson 11: Risky Business (Risk Management and Insurance) Lesson 12: Halls of Knowledge (Financing College) Lesson 13: The Policy of Personal Choice (Understanding the Economy) Lesson 14: Increasing the Value of Your Money (Financial Markets and Investing) Lesson 15: Road to Retirement (Retirement Planning) Lesson 16: Crash Pad (Homeownership and Renting) Lesson 17: Pocket Giving (Charitable Giving) Lesson 18: Paving the Future (Estate Planning) Lesson 19: Financial Sleuth (Financial Resources) Lesson 20: Protect Yourself (Consumer Protection) Lesson 21: Launching Your Dream (Entrepreneurship 1: Starting a Business) Lesson 22: Maintenance Mode (Entrepreneurship 2: Maintaining a Business) Answer Key Glossary Standards Chart MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 3

4 WELCOME TO MONEY SMART Welcome to Money Smart, an exciting interactive exploration of the concepts of money. This standards-aligned, cross-curricular program is designed to promote personal financial education in grades 9 through 12 students and young adults aged 18 to 20. You can use Money Smart to add engaging and enriching activities to financial literacy and economics instruction. Extension activities support English Language Arts, Math, Social Studies and Economics, and Technology, while also helping your students build the foundation to become financially responsible adults. In Money Smart you will find: Twenty-Two Lessons with hands-on, cross-curricular activities that engage ninth- through twelfth-grade students and young adults aged 18 to 20 in discussing and exploring key financial concepts Teacher Presentation Slides, which provide helpful visuals, as well as challenge exercises and reflective prompts to support the activities in each lesson A Student Guide with handouts, worksheets, and resources that let students explore the topics covered in each lesson and apply their new knowledge A Parent/Caregiver Guide with information about topics being covered in class, conversation starters, online and literary sources, along with conversation starters and family activities to try together Developing positive financial habits equips students with 21 st -century skills and tools that last a lifetime. We hope you and your students enjoy learning about money and its many uses. We are eager to hear from you about how you use this curriculum. We would like to know what works well and what could be improved to make Money Smart even better. If you have any questions, we would like to help. Please contact us with your comments and questions via at communityaffairs@fdic.gov. MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 4

5 GETTING STARTED Money Smart provides a comprehensive, developmentally appropriate program for teens and young adults to build an understanding of key financial concepts. There are many features that help make the Money Smart curriculum engaging, motivating, and easy to use. Each lesson includes learning objectives, essential questions, supplies needed, and preparation required, as well as the following features and components to support easy integration of Money Smart activities into your instructional day. STANDARDS Each lesson promotes real-world connections through student-centered learning experiences and aligns to the following education standards, including Common Core State Standards in mathematics and English Language Arts. The Education Standards Chart on pages identifies which standards are met in each lesson. Financial Literacy Jump$tart Standards English Language Arts Common Core State Standards Mathematics Common Core State Standards National Standards in Economics by Council for Economic Education Partnership for 21 st -Century Skills GRADE-LEVEL MODIFICATIONS Please note the modifications identified throughout the lessons to differentiate learning experiences for beginners and advanced learners. Modifications provide developmentally appropriate activity recommendations and extension opportunities for a wide range of learning levels. PRESENTATION TIME Each lesson plan includes an estimated time needed to teach the lesson. Actual time required will vary classroom to classroom. The estimation includes time spent on the Warm Up, Guided Exploration, Independent Exploration, and Wrap Up. Activities may also be taught as several short lessons over a period of days or weeks. Extended Exploration activities are included to extend financial literacy learning opportunities throughout the year and provide easy ways to integrate the topics into various content areas. ASSESSMENTS A variety of assessments will be integrated throughout each of the twenty-two lessons. Assessments are designed to build value, meaning, and context around a topic, while providing teachers with opportunities to evaluate prior student knowledge, and collect evidence of their new understandings of lesson concepts and skills. Pre- (formative) and post- (summative) assessments are noted on the first page of each lesson. Assessments include discussions, reflections, questions and answers, reading, writing, and problem-solving exercises. Student handouts are an especially useful form of written assessment. MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 5

6 LESSON STRUCTURE Each lesson is designed to include the following: Warm Up introduces students to the topic and sparks inquiry. Guided Exploration integrates key financial literacy learning objectives with teacher support and guidance. Through whole-class discussions and activities, students discuss key topics and begin connecting the concepts to the context of their own lives. Money Smart Tips are provided throughout lessons to offer additional guidance, interesting and relevant financial facts, and additional ideas to help make Money Smart a success in your classroom. Independent Exploration activities are designed to engage students in the process of learning through individual discovery, research, and interpretation. These activities are more independent than the Guided Exploration activities and may also be used as homework assignments, for collaborative group work, or independent study. Wrap Up provides a reflection question or activity to review lesson concepts and allow students to demonstrate their understanding. Extended Exploration provides teachers with additional opportunities to extend financial literacy concepts throughout the school year within core content areas including English Language Arts and Math. Activities can be completed as a class, in small groups, or by students individually. Useful resources (such as books, web links, games, or videos) are also included to promote even more student engagement. The books and online resources suggested in this guide are just a few of the many available resources that explore these topics, and are not endorsed by the FDIC. Student Handouts (found in the Student Guide) and Teacher Presentation Slides provide dynamic instructional support. Student handouts create an opportunity for students to apply their knowledge and for teachers to assess their understanding. Teacher presentation slides offer visuals and interactive activities corresponding with lessons. The Answer Key, Glossary, and Standards Chart house all of the information needed to check for understanding, define key terms, and check which activities meet specific education standards. Vocabulary words are bolded in each lesson as they are introduced. It may be helpful to distribute copies of the entire glossary (found on page 146) to students as a reference. MONEY SMART AT HOME The Money Smart curriculum includes a helpful Parent/Caregiver Guide that corresponds to the classroom materials. Families may also use it independently of the curriculum. It contains resources, activities, games, and conversation starters on financial literacy topics covered in each lesson. Use the following ideas to encourage parents to use the guide at home: Introduce parents to the Money Smart program and share the Parent/Caregiver Guide at the start of the school year. Discuss the Money Smart program during parent/teacher conferences, or in monthly parent newsletters home, and the importance of building healthy financial habits early on in life. MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 6

7 Hold a Money Smart family night. Play games and have students share short skits about financial concepts they have learned. Send student handouts from each lesson home in homework folders for parents to review and sign. MONEY SMART PORTFOLIO To promote positive financial behaviors and demonstrate the compounding knowledge of financial literacy skills developed throughout the Money Smart curriculum program, introduce the Money Smart Portfolio into your classroom. The Money Smart Portfolio is a semester-long project that collects student handouts and activities from each lesson to be presented as a final portfolio. The portfolio creation recognizes students financial growth throughout each phase of the learning process. The portfolio also enables students to walk away with a comprehensive resource that may be referred back to anytime a financial question arises in their futures. Using the Money Smart Portfolio as a semester-long project also gives students a long-term goal to work toward, while enabling an excellent opportunity for final assessment. Money Smart Portfolio is designed for the following purposes: Assess student understanding from each phase of the program Create opportunities for final student self-reflection and personal assessment Reaffirm for students the intrinsic nature of financial skills and how one skill and strategy leads to another Build long-term vision for students to invest in the program from beginning to end FINANCIAL LITERACY ALL YEAR LONG Highlight financial literacy at your school all year long, especially in April, during National Financial Literacy Month and School Library Month. Create bulletin boards or posters with students about financial literacy themes learned in Money Smart Create a class or school newsletter with students to distribute to the school community about money skills and financial concepts covered in class. Publish student handouts and activities from the Money Smart lessons by sharing them on a classroom blog, website, or through social media. Display student work in the classroom, library, and hallways to spread financial literacy throughout the school community. Connect with other teachers to integrate real-world applications of financial literacy across all disciplines and classrooms, from Math to English Language Arts and Technology courses. The more that students are exposed to financial literacy, and the more opportunity they have to practice applying their new knowledge and understanding of concepts, at school and at home, the more prepared they will be to live Money Smart lives. MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 7

8 LESSONS AT-A-GLANCE Lesson Title Topic Learning Objectives Time Required 1 Working Hard for the Money Career Options Identify career options and education or training required for different careers Name sources of income Explain the relationship between income and taxes Demonstrate how to research and analyze different careers 55 min Guided Exploration 2 Designing Dreams Financial Planning Determine personal values and financial goals Determine personal financial decisions Create a financial plan Summarize the purpose of financial planning 50 min Guided Exploration 3 Can You Pay Your Bills? Spending and Budgeting Develop a plan for spending and saving Create a system for keeping financial records Identify personal income and expenses or system for cash flow management 50 min Guided Exploration (20 min) 4 Boost Your Savings The Importance of Saving Describe how savings affects financial well-being Explain compound interest Identify and research savings products Explain how interest is computed on savings 50 min Guided Exploration 5 Bank Your Bucks Choosing a Banking Partner Analyze different financial institutions and conduct a comparative analysis of each institution Explain the key differences between checking and savings accounts Demonstrate how to control personal information Understand the benefits of using federally insured financial instituions 80 min Guided Exploration (45 min) 6 Bread-and- Butter Managing Your Paycheck Decode and identify elements of a paycheck Discuss how taxes, personal exemptions, and deductions impact net pay Explain how to calculate gross and net income Discuss the IRS Form W-4 60 min Guided Exploration (40 min) (20 min) MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 8

9 LESSONS AT-A-GLANCE (continued) Lesson Title Topic Learning Objectives Time Required 7 Capacity, Character, Collateral, Capital Credit Define creditworthiness Evaluate positive and negative types of credit Explain credit factors and risks and how credit scores work Discuss how to maintain or increase credit score Explain how credit is damaged 70 min Guided Exploration (40 min) 8 The Almighty Dollar? Credit Cards Identify how credit cards differ from debit cards Discuss different types of credit cards Summarize credit card key terms and conditions and consumer protection laws Evaluate credit card offers and explain how to manage a credit card Demonstrate how to compute the debtto-limit ratio 65 min Guided Exploration 9 As Easy as Pi Financial Ratios Identify common financial ratios Demonstrate and explain how to calculate financial ratios Discuss how financial ratios impact financial decision making and creditworthiness 50 min Guided Exploration 10 Convertible or Clunker? Automobile Purchase Research and investigate secured and unsecured installment loans Calculate how much car to afford Evaluate long-term costs associated with buying a car, including insurance and maintenance Explain the difference between leasing and purchasing 70 min Guided Exploration (40 min) 11 Risky Business Risk Management and Insurance Identify common risks and strategies to reduce risk Explain the purpose and importance of various insurance types Recognize when insurance is needed and how to get it 65 min Guided Exploration 12 Halls of Knowledge Financing College Identify the costs of college Discuss student loan management Research and compare different college financial aid choices Discuss the earning potential of a degree in relationship to its cost 80 min Session 1: Warm Up (15 min) Session 2: Guided Exploration: Session 3: Independent MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 9

10 LESSONS AT-A-GLANCE (continued) Lesson Title Topic Learning Objectives Time Required 13 The Policy of Personal Choice Understanding the Economy Understand how the economy impacts personal financial choices Summarize monetary and fiscal policy Understand inflation Understand economic cycles 55 min Guided Exploration 14 Increasing the Value of Your Money Financial Markets and Investing Understand how investing helps meet financial goals and build wealth over time Research and evaluate investment vehicles and resources Explain how investments are regulated Explain how investments can be impacted by economic and business cycles 65 min Guided Exploration 15 Road to Retirement Retirement Planning Explain how long-term retirement savings through investing builds wealth Identify differences in retirement planning strategies Create a retirement plan Understand Social Security benefits 70 min Session 1: Warm Up and Guided Exploration 16 Crash Pad Homeownership and Renting Explain the responsibilities and expenses of renting versus owning Analyze renting versus homeownership Evaluate sound financial decision making for renting and owning property Discuss costs related to homeownership Discuss how homeownership can create wealth Understand the mortgage approval process 60 min Guided Exploration 17 Pocket Giving Charitable Giving Evaluate charitable giving Analyze monetary and nonmonetary forms of giving Create a spending plan to include giving Discuss tax deductions for giving 55 min Session 1: Warm Up and Guided Exploration (20 min) MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 10

11 LESSONS AT-A-GLANCE (continued) Lesson Title Topic Learning Objectives Time Required 18 Paving the Future Estate Planning Identify elements of an estate plan Evaluate how to title property Explain the importance of a will Understand the consequences of not having an estate plan 50 min Guided Exploration (20 min) 19 Financial Sleuth Financial Resources Demonstrate how to find and use financial resources Differentiate between credible and dishonest financial resources Define and explain the role of a financial planner Understand federal and state consumer protection laws and self-regulatory organizations 60 min Session 1: Warm Up and Guided Exploration 20 Protect Yourself Consumer Protection Explain identity theft Evaluate consumer rights and protection laws Demonstrate how to protect personal information 70 min Guided Exploration 21 Launching Your Dream Entrepreneurship 1: Starting a Business Identify and consider risks and rewards of entrepreneurship Evaluate business start-up practices Explain how entrepreneurship and innovation are a source of economic growth Identify the types of business organizations (sole proprietorship, corporations, LLC, and so on) 80 min Session 1: Warm Up and Guided Exploration (45 min) 22 Maintenance Mode Entrepreneurship 2: Maintaining a Business Understand and describe tax planning and reports Debate business management strategies Explain insurance choices for businesses 75 min Session 1: Warm Up and Guided Exploration (45 min) MONEY SMART FOR GRADES 9 12 AND AGES 18 20: EDUCATOR GUIDE 11